Possible slot revenue loss has city playing wait-and-see
The mayor says the city will have to wait and see when it comes to a potential loss of slot revenues from the casino.
The city currently gets five per cent of slot revenues from the Thunder Bay Casino. And while that number isn’t expected to change, a new international accounting practice by the Ontario Lottery and Gaming Corporation could see the city receive $60,000 less Keith Hobbs said.
Hobbs was part of a meeting with OLG and the mayors from cities that host the province’s six charity casinos last week.
“As we were lobbying to get more money from slots we actually could possibly be looking at a cut,” Hobbs said.
While OLG did say it would make up the difference, Hobbs said he still hasn’t heard a final answer.
“I don’t know how it’s going to impact us.”
The issue will be raised again at the end of February when Hobbs and the other mayors meet with provincial finance minister Dwight Duncan during the Ontario Good Roads Association conference. While Hobbs said he will lobby hard for the money, it might be difficult.
“We think we’re in for some tough times with government cutbacks that’s what we’re hearing.”
The city has received more than $26 million from OLG since the casino opened in 2000.
Follow Jamie Smith on Twitter: @JsmithReporting
